State pension may become ‘means-tested’ as rising inflation makes sum ‘untenable’

This means anticipated improvements in life expectancy when the state pension age was last reviewed have not come to pass.

Mr Jones-Tinsley attributed this to the effects of the COVID-19 pandemic, as well as NHS backlogs and non-diagnosis of life-threatening illnesses during lockdown.

However, the decision could also have further reaching implications, the expert said, namely for the triple lock.

The triple lock ensures the state pension rises each year by whichever is the highest of: 2.5 percent, inflation or average earnings.

The policy will return, after a temporary one year suspension, in a few days to provide a 10.1 percent boost.